Sebi Cracks Down on Reliance Big Entertainment Over Unpaid Fines

The capital markets regulator Sebi has ordered Reliance Big Entertainment to settle Rs 26 crore in fines for not paying penalties related to fund diversion. Sebi warned of seizing assets if payment isn't made within 15 days. The case also involves Anil Ambani and several other entities for fund diversion penalties.

The Securities and Exchange Board of India (Sebi) has mandated that Reliance Big Entertainment pay Rs 26 crore for failing to settle penalties linked to the illegal diversion of funds.

Sebi has issued a stern warning to the entertainment company, indicating that its assets, including bank accounts, may be seized if the fine is not paid within 15 days following the notice issued Thursday.

This notice follows a previous Rs 25 crore fine levied against the company in August, emphasizing Sebi's intensified scrutiny of fraudulent financial practices.

(With inputs from agencies.)